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Tips and Answers
to Your Questions
The Negotiations Process
How much time will board members need to commit to
the process?
The board plays the primary decision-making role in any strategic
restructuring effort, but for most board members this role does not
involve a substantial time commitment. The entire board must initiate
the exploration process that leads (possibly) to negotiations with
another party (or in some cases, multiple parties), but once the board
resolves to enter into such negotiations, a smaller group of board
members and senior staff is chosen to represent the board on the negotiation
committee. The negotiation committee is made up of a similar group
of representatives from each organization taking part in the negotiations.
Those board members serving on the negotiation committee will need
to invest more time and skills in the process than the rest of the
board, as they will be the group that works out the details of any
agreement that comes forth. Throughout the negotiation process the
committee members should be reporting back to their respective boards,
keeping them informed as to progress and getting their input and feedback
on specific issues. Such updates typically take place at regularly
scheduled board meetings and through supplementary written communication.
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